Significance of external environment to the firms in kenya
D61/60603/13 – WILLIAM SCOUT OMASETE
DMA 501 MARKETING MANAGEMENT ASSIGNMENT 1
Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives.
The first problem the firm was encountering was the issue of competitor analysis. Under the marketing concept, companies gain competitive advantage by satisfying target consumer needs better than the competitors do. Thus, marketing strategies must consider not only the needs of target consumers but also the strategies of competitors. The steps include competitor analysis, identifying potential competitors, assessing competitors and avoid being competitor myopia. The company is supposed to draw up some competitor marketing strategies like: customer intimacy where the company provides superior value by precisely segmenting its markets and then tailoring its products or services to much exactly the needs of the targeted consumers. It specializes in satisfying unique customer needs through a close relationship and intimate knowledge of the customer.
The second problem with Linkways Company was the problem of customer relationship marketing together with company’s operating system. Relationship marketing is the process of creating, maintaining, and enhancing strong, value laden relationship with customers and other stakeholders. The relationship of the company with its customers of late has gone down to the competitors. The company had taken its customers for granted and the bucket is now leaking that it can no longer hold the water. The
DMA 501 MARKETING MANAGEMENT ASSIGNMENT 1
Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives.
The first problem the firm was encountering was the issue of competitor analysis. Under the marketing concept, companies gain competitive advantage by satisfying target consumer needs better than the competitors do. Thus, marketing strategies must consider not only the needs of target consumers but also the strategies of competitors. The steps include competitor analysis, identifying potential competitors, assessing competitors and avoid being competitor myopia. The company is supposed to draw up some competitor marketing strategies like: customer intimacy where the company provides superior value by precisely segmenting its markets and then tailoring its products or services to much exactly the needs of the targeted consumers. It specializes in satisfying unique customer needs through a close relationship and intimate knowledge of the customer.
The second problem with Linkways Company was the problem of customer relationship marketing together with company’s operating system. Relationship marketing is the process of creating, maintaining, and enhancing strong, value laden relationship with customers and other stakeholders. The relationship of the company with its customers of late has gone down to the competitors. The company had taken its customers for granted and the bucket is now leaking that it can no longer hold the water. The
Bibliography: 1. Kibera, FN and Waruingi BC, (1998); Fundamentals of Marketing; An African Perspective. Kenya Literature Bureau – Nairobi. 2. Kotler, p and Armstrong, G, (2001); Principles of Marketing. Prentice-hall india 3. Munyoki, JM, (2011); Marketing Management; Theory and Practice. Downtown Printing Works Ltd Kenya. 4. http://en.wikipedia.org/wiki/marketing